Payment on 9.125% Capital Securities - 31/12/98

HOMEX - Melbourne
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This is to advise that Australia and New Zealand Banking Group
Limited will make a payment totalling US$5,902,734.38 on 31 December
1998 on its 9.125% Capital Securities to Holders of Record as at
15 December 1998. This payment equates to approximately US$0.57031
(rounded to 5 decimal places) per US$25.00 security.
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